The FT reports that US legislators have reached “fundamental agreement” on the Bush administration’s $700bn rescue plan:

Hans Jorg Rudloff, Barclays Capital chairman, said: “Anyone looking at the money markets would come to the conclusion that we are one minute before a terminal heart attack. Therefore the rescue package will pass. There is no choice.”


“I’ve never seen people so angry,” said Jim DeMint, a Republican senator from South Carolina. “Our calls are a hundred to one against this bail-out. They don’t trust the government.”

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